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Funding arb · Price arb /

HEMI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC−0.0942%/8h= −103.2% APRpaid last 24h −0.071%
Price spread now: Variational Omni against Hyperliquid+0.182%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on HyperliquidShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm boardneeds both histories
The price spread pays, funding is against you. Variational Omni is 0.182% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.182% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 15 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid HEMI0.0064910.1042pay 0.0130% / 1h10m 19s$1.0M$359K3x
ShortVariational Omni HEMI0.0065030.0100get 0.0050% / 4h3h 10m$23K$3K—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni against Hyperliquid. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$197.83
Price spread: +0.182% → 0.000%
$18.17
Slippage, 4 orders
no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$188.66
Costs to cover
0.090%
Break-even
from the start
Slippage unknown: Hyperliquid: live order book, 10 min ago; Variational Omni: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 10 min ago1.54 bp25.7 bp −$26doesn't fitdoesn't fitdoesn't fit
Sell Variational Omni no order-book sample—————
Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HEMI on 12 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit HEMIUSDT+0.0100%4h0.006484−0.108%$1.7M$1.5M25xas long as short
Gate HEMI_USDT+0.0100%4h0.006494+0.046%$510K$277K20xas long as short
KuCoin HEMIUSDTM+0.0100%4h0.006506+0.231%$838K$1.7M20xas long as short
Variational Omni HEMIshort+0.0100%4h0.006503+0.182%$23K$3K—
SunX HEMI-USDT+0.0100%4h0.006628+2.111%$1K$1.2M20xas long as short
BloFin HEMI-USDT+0.0164%4h0.006503+0.185%$361K$52K20xas long as short
Aster HEMIUSDT+0.0166%4h0.006481−0.155%$75K$47K5xas long as short
Extended HEMI-USD+0.0184%1h0.006480−0.167%$17K—5xas long as short
MEXC HEMI_USDT+0.0186%4h0.006489−0.031%$1.7M$281K50xas long as short
Binance HEMIUSDT+0.0187%4h0.006480−0.176%$6.5M$10.7M20xas long as short
Show all 12 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HEMI-USDT+0.0208%4h0.006483−0.123%—$1.4M—as long as short
Hyperliquid HEMIlong+0.1042%1h0.006491long leg$1.0M$359K3x